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New Member
posted Feb 8, 2021 11:20:20 AM

Selling Stocks

I sold 4 stocks last year. When I tried to enter them into Turbo Tax , 3 worked but one did not. The cost basis did not subtract from the proceeds.

0 2 1270
2 Replies
Employee Tax Expert
Feb 9, 2021 8:01:06 AM

If you have successfully entered three stocks, and you have trouble with the forth one we should first take a look at your entries, and if necessary, clear the transaction and start over.

 

The three boxes we should first look at are:

  • 1b Proceeds
  • 1e Cost or basis
  • 1g Wash sale disallowed

If these three boxes are entered correctly that is a good start.  Be aware that if you have an entry in box 1g - Wash sale, you will not get credit for a loss on that stock.

 

Now check and see if anything else has been entered.  Many times there is not.

 

If all seems in order I suggest we clear this transaction and re-enter it.

 

If you have to delete an individual entry from your return you can go back to the input screen. On the right hand side there is a trash can.  Select the trash can and confirm you want to delete that form.

Level 3
Feb 14, 2021 1:49:33 PM

Didn't you receive a consolidated 1099 from your brokerage house? Normally, they do all that for you, and you can electronically import it all.  🙂